It’s been getting longer and longer since February: the EU’s list of sanctions against Russia. People from President Putin’s closest circle are also listed there. But it turns out that finding the oligarchs and their possessions is not that easy. A research website provides an overview of the oligarchs’ hidden fortunes and how much their objects are worth.
They own villas, yachts, plots of land and company shares: very rich Russian oligarchs and top politicians. Many of them are closely linked to the Russian leadership and President Putin and hide a large part of their objects abroad. Therefore, after the start of the Russian war of aggression against Ukraine, numerous Western countries imposed sanctions on many of these men as well.
An international research team of journalists has set itself the task of revealing the well-hidden possessions of the sanctioned men and their value under the title “Russian Asset Tracker”. In the meantime, the owners of 18 people have come together to the value of around 19.86 billion US dollars, including villas in Germany.
One wealthy man who has arguably received the most attention since Putin’s attack is Russian billionaire Roman Abramovich. He has been known to football fans for a number of years. 19 years ago, the businessman bought the British football club Chelsea FC, which is his most expensive property at around 2.5 billion dollars. A few weeks ago he announced the sale of the club in the wake of the invasion of Ukraine.
The value of his properties found so far by the Russian Asset Tracker team is over $10 billion. Abramovich is number one on the “Tracker” list. Before the sanctions were imposed in March 2022, his net worth was estimated at $12.3 billion. The researchers were able to find traces of Abramovich in many parts of Europe: He therefore owns 109 properties, including 51 residential properties in France, Austria, Great Britain and 22 commercial areas. His family also owns land, private planes, company shares and horses.
Billionaire, businessman, oligarch: Oleg Deripaska is currently in second place on the list. According to research by Russian Asset Tracker, his discovered possessions are worth more than $5 billion. In contrast to Abramovich, who has always denied allegations that he was in contact with Putin, according to US diplomatic reports, Deripaska was a “more or less constant” on Putin’s trips abroad and one of the few people the ruler met regularly . His property – including yachts, planes, hotels and villas – is located in Italy, Austria, Cyprus and the UK, among others. He also has a 45 percent stake in energy company En Group, which Tracker research has valued at over $3 billion.
The EU has also imposed sanctions on the Russian-born Alisher Usmanov. Its 25 mansions, yachts and planes are worth around $3.5 billion, according to Russia Asset Tracker. Among other things, he owns villas on Lake Tegernsee and a yacht in Hamburg.
Eugen Shvidler is the fourth richest man on this list. He owns properties worth around $287 million. He was sanctioned in March for his connection to Abramovich. The duo made their fortunes in Russia during the oil privatization boom of the 1990s. Although Shvidler was born in the Soviet Union, he is now a British and American citizen. Shvidler declined a request from Russian Asset Tracker to comment on his net worth. A spokesman said he does not have Russian citizenship and has not been in the country since 2007, adding: “There are no ties to the Kremlin.”
Russian politician Igor Sechin has been CEO of the Russian oil company Rosneft for 10 years. Among other things, Sechin owns the yacht “Amore Vero”, which is valued at around 120 million US dollars. The politician is considered the second most powerful man in Russia and has followed Putin every step of the way to power. When Putin became head of the foreign affairs committee in the St. Petersburg mayor’s office in 1991, Sechin was appointed his chief of staff.
Others on the list: Russian politician Igor Shuvalov Sechin is worth $102 million, according to the list. The oligarch and commodity trader Gennady Timchenko owns $70.5 million, the head of Russia’s largest private bank Alfa Bank, Peter Aven has $6.4 million. Also on the list: Foreign Minister Sergei Lavrov, who has been a close confidante and political companion of President Putin for years. He has at least $6.3 million in assets, according to the list, and has been sanctioned not only by the EU, but also the US, UK, Canada and Australia.
According to Russian Asset Tracker, Lavrov is followed by the chief prosecutor of Moscow, Denis Popov (5.6 million), the president of Transneft, Nikolai Tokarev (4.8 million), TV and radio presenter Vladimir Solovyov (2.3 million), as well as Yuri Chaika (400,000) and Alexander Bastrykin (334,000).
The Russian Asset Tracker team scours company registers and offshore leaks to continually expand its list whenever there is clear evidence confirming individuals’ holdings abroad.
